Overview Public Finance

Financial Overview Paper

Carlos J. Negron


Septmeber 12, 2011
Prof. David Rouan

Describe the government's capital project, general, and proprietary funds
Federal taxes have to be paid in order for a government to keep a country running.   There are different kinds of taxes that help every state and their local government.   Federal taxes pay for welfare programs, funding for science and art, military and defense projects, education, and national infrastructure.   State income taxes are used to help the state maintain itself and provide support to local government offices.   These local state taxes provide unemployment benefits, maintenance for parks, arts programs, statewide police, welfare programs, education stipends for school district, and public recreation.   Florida income taxes are used to support cities and townships.   These taxes are used to support schools, libraries, community centers and their programs, police protection, utility and street maintenance, and parks and their facilities.   These taxes also help with the city wide waste management, sewage processing and countless other services that keep a city running.   Property taxes in Florida are used to help fill the state and local government coffers.   County governments in Florida rely on this taxes to be able to upkeep the outside of the city borders.   School taxes in Florida are very important these are used directly on all local school systems.   With these taxes books, schools, teachers, programs and classes are used to pay for them.
Budget Analysis
Florida's budget continues to go from bad to worst.   State economist believe that Florida's budget will start to get worst again.   These can bring a gap in Florida's budget by billions.   These shortfall is the result of lower tax collections in a really slow economic recovery.   Since it is forecast for the budget to be less than previous years this is going to affect by getting a budget cut to schools, health care for the poor and...